ISO 9001:2008 Certified | ISO/IEC 20000-1:2011 Certified
Fairfax, VA, October 3, 2002 – STG, Inc., a government and commercial technology solutions provider, today announced the acquisition of privately held DSTI (Decision Systems Technologies, Inc.) of Rockville, MD.
Founded in 1986, DSTI is an ISO 9001-certified company that has earned a solid reputation for providing specialized information technology, engineering, and science solutions to clients like the Air Force, Army, Navy, Defense Logistics Agency, Department of Education, Health and Human Services, and NASA. DSTI employs over 400 professionals at locations throughout the United States, Europe, and Korea, and projects 2002 revenues of $42 million.
DSTI Executive Vice President, Frederick G. Chiccone, described DSTI’s role in STG: “Joining the STG family increases the scope and reach of our capabilities, creating an even more powerful team.” He continued, “We expect many positive outcomes from this transaction—STG is one of the most respected systems integrators in the government services market and we are proud to be an integral member of STG to provide leading technology solutions to our Nation’s government.”
"DSTI provides us with great opportunities for rapid expansion in several new business areas," noted Simon S. Lee, STG’s President and CEO. "They strategically diversify STG beyond its IT focus by offering scientific and engineering solutions, like mobile battlefield command centers for the Army. These specialty engineering offerings coupled with mission-critical Homeland Security initiatives will fuel many growth opportunities for STG. We are excited to have Fred Chiccone as DSTI's new President and to add such capabilities to our portfolio of companies and their highly skilled engineers to our family.”
Under the terms of the agreement, STG, Inc. acquired all of DSTI’s outstanding stock for a combination of cash and Seller notes. The deal also included an earnout provision that focused on DSTI's projected extraordinary growth. Riggs Bank and Wachovia Bank teamed to provide the financing and continuing financial support. Windsor Group served as advisor to STG and arranged financing. Holland & Knight and Covington & Burling provided legal advice to STG and DSTI respectively.
Celebrating 20 years of excellence, STG has provided the